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Show SECURITY LIST 18 NARROW THOUGH STOCKS ARE STRONG i , , Trading Is Restricted and Dealings Dwindle to Smallest Total in Months; Speculative Issues to Fore. t l.;1.lj:1L XETV YORK, Aug. 23. Trading in i stocks today was narrow and restricted, j dealings dwindling to the smallest total of any week and session since the early , part of the year. What the market lacked -in activity and breadth, however, was j largely made up in strength, even though the strongest features were speculative j issues, which owe their prominence to pools and allied professional interests. I Motors and associated specialties scored . ; extreme gams of 2 to 13 points, oils, . ' shippings and tobacco rose 1 to 5, and ; t equipments, metals and several of the , : better known specialties finished at gains , of 1 to 3 points. ; Rails were listless most of the brief ; session, but came forward toward the j end, some of the coalers and secondary . western and southwestern shares gaining 1 to almost 2 points. j United States Industrial Alcohol was ! again the one weak feature, extending i yesterday's severe decline by almost t points, but kindred issues kept pace with the market's upward trend. Sales i amounted to 325,000 shares. I For the second time this year the week- I ly bank statement reported a depletion of actual reserve, the deficit being slightly more than SiOO.000. This exhibit is the more interesting because actual loans were contracted by almost 535,000,000. One of the factors contributing to the stock market's improvement was the further fur-ther strength of sterling exchange rates on Paris, and Rome also rallying- partially. par-tially. Bonds were steady in the main, despite slight irregularities in Liberty and international inter-national issues. Total sales (par value) aggregated $4,750,000. Old United States 1 bonds were unchanged on call during the j week. I By its nervous and very unsettled i course, the stock market this wetk unmistakably un-mistakably reflected further untoward developments in the industrial world, more particularly the extension of labor disturbances. dis-turbances. Other undoubted factors which accelerated acceler-ated the market on -the down grade were tiie spread of the movement against high costs aiKl the absolute deinonUizat-.cn which reigned in the foreign exchange situation. These latter conditions were partly rectified rec-tified in the lr.ter dealings of the week, and with them came a shurp rally in quoted values, but threats of fresh strikes continued to serve as a restraining influence. in-fluence. Taking the week's lowest prices as a basis of reckoning, many active stocks lost the greater part of the advance made in the previous five months, while a few standard issues were at lowest levels of the year. Investment conditions a?so left much to he desired from the standpoint of conservative con-servative financial interests, the bond market, as a whole, tending lower, with many representative issues at minimum quotations for the pa3t year or more. Although the stock market Is technically techni-cally stronger for the liquidation of the past three weeks, doubt is expressed in foremost trading circles as to the advisability advis-ability of attempting a resumption of bullish operations at this uncertain period. Money tendencies were firmer, call loans mounting to 8 per cent after ruling from 2 to 3 per cent under the higher figure. Need for further caution respecting re-specting loans were emphasixed by the weekly bank statement, which disclosed the second deficit of the year in actual I reserves. |